The EUR/USD currency pair surged above 1.0850 during Friday’s European trading session, marking a return to a four-month high. This rally is largely attributed to the weakening US Dollar (USD), occurring just ahead of the highly anticipated Nonfarm Payrolls (NFP) data release for February, scheduled for 13:30 GMT.

Market participants remain vigilant as they anticipate shifts in market dynamics following the NFP data. Analysts expect these figures could significantly influence the dollar’s performance in the short term. With the euro gaining traction, investors will be keeping a close eye on any further developments that could affect both currencies.